Turnaround in political sentiment and FPI flows coupled with the expected large inflows from rights issues and the Arcelor deal have driven the rupee appreciation, and the rupee could stay strong if the flows continue.

A high of 11,383.45 will act as an immediate resistance above which the momentum will resume till 11,465 â 11,523 levels, respectively. On the flip side, the gap area of 11,227 â 11,180.90 will act as strong support on the index.